NEW YORK, NEW YORK - (Marketwire - May 18, 2010) - OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies, is pleased to announce the closing of the acquisition of United States Infrastructure Corporation ("USIC").
USIC is the leading provider of outsourced sub-surface utility locating services in the U.S. The Company provides locating services across 20 states on behalf of over 400 telecom, electric, gas, cable and water utilities, including all major national and regional utilities throughout the midwest, southeast, southwest and northwest.
"USIC provides critical support to infrastructure construction and renewal in the United States. We look forward to continuing to work closely with management and supporting their vision for the continued growth and leadership of the business," said Michael Graham, Senior Managing Director and Head of U.S. Private Equity for OMERS.
OMERS Private Equity continues to acquire market leading businesses, as part of its investment strategy to actively manage its investments. This is the second transaction led by OMERS Private Equity in the last twelve months, after its acquisition of Nordco Inc. in June, 2009.
About OMERS, OMERS Worldwide and OMERS Private Equity
OMERS is one of Canada's largest pension funds and has ranked on average in the top quartile in the last five years, driven largely by solid returns in private market investments. The OMERS Worldwide brand represents the various OMERS investment entities, including OMERS Private Equity, OMERS Capital Markets, Borealis Infrastructure, Oxford Properties Group and OMERS Strategic Investments. To find out more about OMERS please visit www.omers.com.
OMERS Private Equity manages the private equity activities of OMERS and today has over $4 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. OMERS Private Equity is headquartered in Toronto, Canada, with offices in New York and London. For further information visit: www.omerspe.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
OMERS Private Equity
President and Chief Executive Officer
OMERS Private Equity USA
Senior Managing Director